Why Disney Is Investing $1 Billion in OpenAI

WSJ What’s News

The Wall Street Journal

Daily News, News

4 • 4K Ratings

🗓️ 11 December 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for Dec. 11. Disney announces a $1 billion investment and licensing deal with OpenAI that lets users put their characters in AI-generated videos. WSJ entertainment reporter Ben Fritz discusses why Disney came to terms with OpenAI and what risks it faces. Plus, Oracle shares fall nearly 11% as investors worry the company is overspending on AI, dragging the Nasdaq down with it. And in an effort to break its dependence on China, the U.S. is developing its own critical minerals industry—and, as Journal reporter Heather Somerville explains, Silicon Valley is giving it a boost. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	In a world full of noise, long-term thinking stands out.
0:07.1	On the Capital Ideas podcast, Capital Group Leaders explore the decisions that matter most
0:12.4	in investing, leadership, and life.
0:16.0	It's a rare look inside a firm that's been helping people pursue their financial goals for more than 90 years.
0:22.5	Listen to the Capital Ideas podcast from Capital Group, published by Capital Client Group, Inc.
0:33.3	What Disney gets out of letting Open AI users drop Mickey Mouse and Buzz Lightyear into AI videos.
0:39.8	This gives Disney a financial stake in the hottest AI company in the world.
0:44.3	Plus, after two Senate votes fail, hope is fading for a deal to extend health care subsidies for millions of Americans before the end of the year.
0:52.8	And how Silicon Valley is giving a boost to a U.S. push into critical minerals against China.
0:58.5	It's Thursday, December 11th.
1:00.8	I'm Alex Osala for the Wall Street Journal.
1:03.3	This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:16.6	Thank you. and business stories that move the world today. Disney has licensed its characters to OpenAI for three years as part of a deal the two companies announced today.
1:23.3	Disney is investing $1 billion in OpenAI with the possibility of buying more stock.
1:28.8	On OpenAI's SORA video platform, users will be able to generate videos of more than 200 Disney, Marvel, Star Wars, and Pixar characters, including Darth Vader, Homer Simpson, and Spider-Man.
1:40.2	And some of those videos can be streamed on Disney Plus.
1:43.2	A person with knowledge of the matter says OpenAI will pay Disney to use its characters in SORA.
1:48.4	The companies didn't disclose financial terms of that arrangement.
1:51.8	Here's Disney CEO Bob Eiger in an interview on CNBC this morning.
1:55.5	Open AI is both respecting and valuing our creativity, both our characters, but also those that have created
2:04.3	those characters. So it gives us an opportunity really to play a part in what is really a breathtaking
2:11.4	growth in essentially AI and new forms of media and entertainment.
	...

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